CBRE Caledon Capital Management has entered into a definitive agreement to acquire a majority equity interest in CitySwitch Tower Holdings, a build-to-suit wireless tower developer and operator, from funds managed by American Infrastructure Funds.
CBRE Caledon is making the investment on behalf of one of its funds as well as one of its separately managed accounts.
CitySwitch has a significant tower portfolio diversified across 25 states in the eastern United States. The newly constructed portfolio of operating towers has long-term anchor contracts with more than 85 years of remaining contract life. CitySwitch is a pioneer in railroad asset development enabling the company to deliver unique and differentiated tower locations to national and local carriers.
The company is well-positioned to expand its build-to-suit pipeline and accelerate its tower count through organic growth.
“CitySwitch is poised to benefit from the unprecedented long-term growth oppo